Vicinity Centres (ASX:VCX) completes $1.2b placement

Company News

by Rachael Jones

Vicinity Centres (ASX:VCX) has successfully completed a fully underwritten placement of fully paid new stapled securities to institutional and professional investors, at the offer price of $1.48 per New Security details of which were announced to ASX on 1 June 2020.

The Placement received strong support from existing securityholders and demand from potential new investors, raising $1.2 billion.

This equity raising will strengthen Vicinity’s balance sheet and provide Vicinity with flexibility to respond to the uncertainty caused by COVID-19 and the evolving retail landscape.

Shares in Vicinity Centres (ASX:VCX) shares are trading 2.6 per cent lower at $1.57.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.